Vietnam Daily Market Recap Oct 07

Market Commentary: The VN-INDEX continued the uptrend momentum to close above 1,365pts level 

The VN-INDEX gained 3.2pts today supported by positive performance from the Financials sector. Following an 8.2pts increase in the previous session, the index began Thursday’s session in optimistic sentiment as almost all large caps started trading in the green. The largest support came from VCB which rose 1.3% to VND96,800 and alone adding 1.2pts to the index’s advance. Smaller banking stocks also joined the rally, led by VPB (+4.2%), SSB (+3.9%), and MSB (+5.0%), together contributing 1.7pts to the index. Other large caps in top movers today included GVR (+0.9%), KBC (+3.8%), VIC (+0.2%), and BVH (+1.5%). As the VN-INDEX increased three consecutive sessions, selling pressure emerged before the daybreak and pushed the index down to the red territory. Top laggard today included GAS (-2.2%), HPG (-0.9%), VHM (-0.6%), NVL (-0.9%), and TCB (-0.6%). However, the gain was higher than the selling pressure from the laggers. At the end of the session, the VN-INDEX followed its uptrend to close in the green at 1,366.0pts (+0.2%) and the HNX-INDEX also surged 0.5% to 370.4pts. 

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